PETALING JAYA: Sapura Resources Bhd is banking on its latest Lot 91 KLCC project to be the key driver of the group’s earnings now that it has sold off its education business for RM246.99mil.
SINGAPORE: BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region.
SINGAPORE-listed property firm UOL Group Ltd, which owns and operates the Parkroyal and Pan Pacific brands, will see its hospitality portfolio in Malaysia grow in the next two to three years as it adds two new hotels and expands an existing hotel asset in Kuala Lumpur.
PETALING JAYA (May 28): Contractor-cum-property developer Binastra Land Sdn Bhd aims to launch its flagship and largest project – the RM1.3 billion Trion Kuala Lumpur – in Chan Sow Lin, an industrial area in Kuala Lumpur, at the end of the year.
ESTABLISHED property company and hotelier, IGB Corp Bhd, is believed to be in talks to dispose of its 20-year-old, 910-room Renaissance Kuala Lumpur hotel to a little-known Singapore company for just below RM800 million. Should the deal materialise, it would create history as the country’s most expensive hotel transaction.
A RECENT move by Lembaga Tabung Haji to lease its office space in Menara TH Platinum at Platinum Park, Kuala Lumpur, at way below market rental rates caught everyone by surprise and shocked real estate agents and office building owners. At RM5 psf, the rate is less than half that — about RM11 psf — fetched by Petronas Tower 3 and Integra Tower @ The Intermark, which are located nearby.
PETALING JAYA: The industrial property sub-sector is anticipated to grow moderately this year, boosted by ongoing Government initiatives to boost investments and stable opportunities within this segment.
KUALA LUMPUR: The RM9bil light rail transit line three (LRT 3) project from Bandar Utama to Johan Setia, Klang will kick off this month, with some 96 companies being shortlisted for the various jobs.
KUALA Lumpur City Hall (DBKL) has finally unveiled the proposed RM900mil Jalan Tun Razak (JTR) Traffic Dispersal Project to reduce traffic congestion in the city centre.
KUALA LUMPUR: Mulia Group’s Signature Tower project, which is expected to command a gross development value of more than RM3.5 billion, will likely be the first project to be completed under the Tun Razak Exchange (TRX) master plan.